Laserfiche WebLink
SECTION 13. Reimbursement of Expenditures. The County expects to make certain <br /> capital expenditures for the Project prior to the issuance of the Bonds, and reasonably expects to <br /> reimburse such expenditures from the proceeds of the Bonds. The County hereby declares its official <br /> intent to use proceeds of the Bonds to reimburse itself for expenditures in connection with the <br /> Project. This ordinance is adopted in part for the purpose of establishing compliance with the <br /> requirements of Section 1.150-2 of the U.S. Treasury Regulations. This ordinance shall be <br /> reasonably available for inspection at the office of the County Clerk, located at 333 Kilauea Avenue, <br /> Ben Franklin Building, Second Floor, Hilo, Hawaii 96720, commencing within fifteen (15) days after <br /> its adoption by the Council. <br /> SECTION 14. Repeal of Conflicts. All ordinances and resolutions, and any portions of <br /> ordinances and resolutions, heretofore enacted or adopted by the Council which are in conflict or <br /> inconsistent with any provision of this ordinance shall be and are hereby repealed to the extent of such <br /> conflict or inconsistency. <br /> SECTION 15. Severabilitv. If any provision of this ordinance or application thereof to <br /> any person or circumstance is held invalid, such invalidity shall not affect other provisions or <br /> applications of this ordinance which can be given effect without the invalid provision or application, and <br /> to this end, the provisions of this ordinance aze declared to be severable. <br /> SECTION 16. Effective Date. This ordinance shall take effect upon its approval. <br /> RODUCED Y: <br /> COUNCIL ER, CO HA AI`I <br /> Hawaii <br /> <br /> Date of Introduction <br /> Date of 1st Reading <br /> Date of 2nd Reading <br /> <br /> Effective Date: <br /> REFERENCE: Comm. 505 6 <br /> <br />